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The real estate crash didn’t just happen …
Judy Chapman, an Illinois real estate professional, has presented some insight into the reasons the housing market crashed, taking along with it one financial institution, and crippling a few others.  I think there could have been a drop in home prices without the legislative help that Judy cites, but not a full fledged crash as we have experienced.
The real estate crash didn’t just happen … it was orchestrated like a symphony.
Nothing as dramatic as seeing home values skyrocket seemingly overnight from the late 1990s until 2005, only to crash like a boulder, has happened just once before … in 1929.
Circumstances then were similar to now: banks were organized as unregulated conglomerates, money was treated like water, speculation was rampant, and unbridled greed was pervasive. Consequently, America along with the rest of the world descended into a Great Depression that lasted more than a decade.
In 2008, the financial markets nearly crashed as catastrophically as it did in 1929.
The crisis started with the bankruptcy of Lehman Brothers, then the fourth largest investment bank in the United States. The self-destruction of Lehman Brothers was no accident. The firm out-leveraged their investments 31 to 1, much of its exposure ... more

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